Warehouse providers ended 2016 with roughly $62.0 billion of commitments on their books, a 21.6 percent improvement from the same period a year earlier, according to new survey figures compiled by Inside Mortgage Finance. For the most part, warehouse finance continued to be a healthy business for the megabanks and regional banks that play in the sector – especially with nonbank originators stealing market share away from many of the institutions they’re receiving lines of credit from. Few warehouse managers interviewed by this publication cited...[Includes one data table]
The Angel Oak family of mortgage lenders finished 2016 with roughly $700 million of nonprime/non-QM originations, according to officials at the company.
Market watchers must be wondering just how long investors will continue to believe in the GSE “bet” made by hedge fund manager Pershing Square Capital Management.
Consequently, top-tier banks that offered FHA-insured mortgages have opted to either restrict their government business or exit the program altogether…